The leading cryptocurrency exchange, Binance, has announced a suspension of fiat withdrawals to bank card accounts for select users in Ukraine. The restriction, which arises from a revamping of Binance”s fiat operations in the region, will come into effect on December 29, 2025, as reported by local financial media.
According to a statement from the exchange, this suspension specifically targets customers who have utilized the services of Bifinity, a Binance subsidiary based in Lithuania. Bifinity was established to streamline fiat deposits and withdrawals for users across European jurisdictions. Binance clarified that the changes are due to maintenance and updates to partner infrastructure.
While direct withdrawals to Visa and MasterCard accounts are currently halted, the exchange reassures that various other fiat options remain accessible. Deposits via these card networks, along with support for Apple Pay and Google Pay, continue to function without disruption. Users can also utilize SWIFT transfers for both deposits and withdrawals, maintaining a channel for urgent fiat transactions.
Additionally, Binance has indicated that the widely used payment service Zen.com will also be available for transactions involving euros, Polish zlotys, and other currencies, although its full functionality is anticipated only by January 6, 2026.
In light of these developments, users seeking to withdraw fiat funds urgently are encouraged to consider SWIFT transfers or explore peer-to-peer (P2P) trading options, should they be available in their respective areas.
The crypto exchange emphasized that not all Ukrainian users are affected by these restrictions. The limitations are confined to those who had previously engaged with Bifinity services. Binance reiterated that its operations are not influenced by the National Bank of Ukraine (NBU) and that P2P transactions remain unaffected.
As crypto adoption continues to rise in Ukraine, the country has been identified as a significant player in the global cryptocurrency landscape, especially in light of the economic pressures stemming from geopolitical tensions. A recent study by Chainalysis ranked Ukraine among the top adopters of cryptocurrency, reflecting a growing trend towards digital assets as a means of financial resilience.
With the recent shifts in fiat withdrawal capabilities, Binance”s adjustments come at a pivotal time, underscoring the platform”s efforts to navigate the evolving regulatory landscape while maintaining service continuity for its user base.
